What you can always expect from Vanguard

Low costs

We strive to keep your costs low. No matter which of our top-quality funds you choose, you're getting them at some of the lowest costs in the industry. Our mutual funds, on average, cost 82% less than their peer-group averages.*

Top fund managers

Our fund managers—both our own experts and premier money managers we hire from around the world—make our funds stand apart year after year. Over the past decade, 93% of Vanguard mutual funds beat the average returns of their peer group averages.**

REFERENCE CONTENT

Market benchmark

footnote*Vanguard average expense ratio: 0.18%. Industry average expense ratio: 1.02%. Sources: Vanguard and Lipper, a Thomson Reuters Company, as of December 31, 2014.

footnote**For the 10-year period ended December 31, 2014, 10 of 10 Vanguard money market funds, 46 of 51 Vanguard bond funds, 18 of 18 Vanguard balanced funds, and 107 of 115 Vanguard stock funds—for a total of 181 of 194 Vanguard funds—outperformed their Lipper peer-group averages. Only funds with a minimum 10-year history were included in the comparison. Source: Lipper, a Thomson Reuters Company. The competitive performance data shown represent past performance, which is not a guarantee of future results. See the most recent performance of our funds

All investing is subject to risk, including the possible loss of the money you invest. Diversification does not ensure a profit or protect against a loss in a declining market. Past performance is no guarantee of future returns. The performance of an index is not an exact representation of any particular investment, as you cannot invest directly in an index.

Vanguard provides services to the Vanguard funds and ETFs at cost.

Vanguard is client-owned. As a client-owner, you own the funds that own Vanguard.